TDA Insurance Blog

For small manufacturing businesses in Michigan, business insurance may be best purchased as a business-owner package or “BOP”, where the policy can be tailored to suit the operation. BOPs for small manufacturing businesses include:

Liability coverage: for accidents, injuries, libel, and products-completed operations coverage in case of harm caused by a finished product.

Property insurance: your business will be covered for standard business property damage from natural disaster and theft, as well as coverage for equipment, raw materials and products, computer operations interruption coverage, electronic data loss coverage, business interruption, and may include coverage for mechanical breakdown and employee dishonesty.

Additional workers compensation insurance is essential if you employ people to cover them for medical expenses for work injury, and provide an income replacement during their absenteeism from work while recovering.

You also need to consider whether you need to purchase auto insurance in addition to your BOP as your personal auto coverage may not be sufficient or applicable if you are using your vehicle largely for business purposes. When your business owns any vehicles they should be insured under a commercial policy.

Check with your insurance agent regarding getting a suitable Michigan business insurance BOP for your manufacturing business that will provide all the coverage your business requires.  
 

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